Novamont buys majority of PET, biobased polyester company from M&G

6:46 AM MST | March 4, 2014 | Francinia Protti-Alvarez

Novamont (Novara, Italy) has acquired a 78% stake in Mater-Biopolymer (Patrica, Italy), a unit of the Mossi & Ghisolfi (M&G; Tortona, Italy) group, Novamont announced. Novamont, under the terms of the agreement, has an option to acquire the remaining stake in Mater-Biopolymer by the end of 2016. Financial details were not disclosed. Mater-Polymers' plant at Patrica will, under the terms of the acquisition agreement, operate exclusively for Novamont and M&G, with one line producing polyethylene terephthalate (PET) and another—modified over the...